FPT Software licensed to build $85 mln tech hub in central Vietnam

Vietnam’s leading IT service provider FPT Software has received an investment certificate to build a VND2 trillion ($85.28 million) technological training, production and research center in Binh Dinh province.

Binh Dinh Chairman Pham Anh Tuan delivered the permit to the business at a Sunday conference on the socioeconomic development of the north-central and coastal central regions. The first-phase implementation of the project is scheduled to begin in the third quarter of this year.

The hub, located in Quy Nhon, is set to feature 20,000 technological laborers, helping the town become an artificial intelligence (AI) hub in Southeast Asia. It will also provide high-tech services based on advanced technology such as AI, Big Data, the Internet of Things (IoT), and automation in a move to boost the competitiveness of Vietnamese tech firms and Binh Dinh’s economy.

In June 2020, FPT and Quebec AI Institute (Mila) signed an agreement to develop FPT’s VND4,362 billion ($186 million) AI research center in Quy Nhon, covering 94 hectares.

FPT University, the educational arm of the tech giant, kicked off the construction of its Binh Dinh campus in December 2019 with a goal to train 5,000 students a year.

FPT Software launched its Quy Nhon unit in 2018 with 550 staff, which it plans to expand to 3,000 by 2025.

FPT Software posted a revenue of $800 million and employed 27,000 people in 29 nations in 2022.

In June 2022, FPT announced plans to invest VND6 trillion ($258 million) in the central city of Danang from 2022-2025. It has also proposed to develop three complex projects in Khanh Hoa province, also in the central region, featuring technology facilities, housing areas, resorts and services.